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Indonesia Retail March 2024

Indonesia: Retail sales growth eases in March

Retail sales expanded 3.5% year on year in March (February: +6.4% yoy). The figure was partly due to a deterioration in food, beverages, and tobacco sales. In contrast, motor vehicles, parts and accessories sales gained steam. Lastly, cultural and recreation goods sales declined at a sharper rate, while information and communication equipment sales decreased at a softer pace than in the prior month.

Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 2.0%, down from February’s 2.1%.

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